The words “affordable” and “auto insurance” probably shouldn’t be used together, especially when searching for the best car insurance for active military. Because it’s not cheap, let’s learn about some things that have a considerable impact on insurance rates, and find out if you can cut the cost of the next policy you buy.
Finding decent, reasonably-priced insurance is tough enough, and figuring out which company has the best auto insurance rates for active military will take even more rate comparisons.
Each auto insurer has a unique formula for determining prices, so we need to take a look at the auto insurance companies with the overall cheapest rates in Lexington, KY. We do need to point out that Lexington, KY auto insurance rates are determined by lots of factors which can substantially change your annual premium. Simply having another birthday, moving to a new city, or getting a DUI can produce rate changes that can now make some companies cheaper than before.
Cheap Insurance Rates for Military
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Cincinnati Insurance | $1,093 |
| 2 | Kentucky Farm Bureau | $1,163 |
| 3 | USAA | $1,175 |
| 4 | Auto-Owners | $1,357 |
| 5 | Motorists Mutual | $1,601 |
| 6 | Grange Mutual | $1,609 |
| 7 | Travelers | $1,631 |
| 8 | State Farm | $1,793 |
| 9 | Westfield | $1,888 |
| 10 | Safe Auto | $1,913 |
| 11 | Progressive | $2,056 |
| 12 | Electric | $2,076 |
| 13 | Nationwide | $2,085 |
| 14 | State Auto | $2,232 |
| 15 | Encompass | $2,312 |
| 16 | GEICO | $2,365 |
| 17 | Safeco | $2,791 |
| 18 | MetLife | $3,084 |
| 19 | Shelter | $3,135 |
| 20 | Liberty Mutual | $3,744 |
| Find Your Rate Go | ||
Cincinnati Insurance has some of the most affordable car insurance rates in Lexington at around $1,093 a year. This is $1,050 less than the average premium paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual also make the cut as some of the lowest-priced Lexington, KY auto insurance companies.
In the rate table above, if you currently have coverage with Auto-Owners and switched to Cincinnati Insurance, you might realize yearly savings of in the neighborhood of $264. Insureds with Motorists Mutual might save as much as $508 a year, and Grange Mutual insureds might realize rate reductions of up to $516 a year.
Understand that those policy rates are averaged across all drivers and vehicles in Kentucky and and are not figured with a specific zip code for active military. So the insurer that has the cheapest price for you may not even be in the top 21 companies shown above. That emphasizes why you need to get rate quotes using your own individual information.
For military personnel, one of the more important considerations that are looked at to determine auto insurance rates is where you normally keep your vehicle. Areas with high crime rates or more dense population will most likely pay more, whereas areas with lower vehicle theft rates and fewer weather claims benefit from having to pay less for coverage.
The following table lists the most costly cities in Kentucky for active military to buy car insurance in. Lexington ranks #19 with a yearly cost of $1,469 for the average insurance policy, which is about $122 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Louisville | $2,154 |
| 2 | Frankfort | $1,725 |
| 3 | Saint Matthews | $1,694 |
| 4 | Jeffersontown | $1,685 |
| 5 | Ashland | $1,656 |
| 6 | Radcliff | $1,654 |
| 7 | Paducah | $1,631 |
| 8 | Elizabethtown | $1,611 |
| 9 | Madisonville | $1,600 |
| 10 | Murray | $1,565 |
| 11 | Winchester | $1,547 |
| 12 | Hopkinsville | $1,538 |
| 13 | Danville | $1,534 |
| 14 | Covington | $1,532 |
| 15 | Nicholasville | $1,504 |
| 16 | Henderson | $1,495 |
| 17 | Georgetown | $1,491 |
| 18 | Richmond | $1,475 |
| 19 | Lexington | $1,469 |
| 20 | Florence | $1,427 |
| 21 | Independence | $1,422 |
| 22 | Erlanger | $1,420 |
| 23 | Bowling Green | $1,418 |
| 24 | Fort Thomas | $1,412 |
| 25 | Owensboro | $1,390 |
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Rate information is comparative as specific Lexington zip code can revise auto insurance rates greatly.
The make and model of vehicle you are trying to insure is a significant factor that determines whether or not you find the lowest-priced auto insurance for active military. Vehicles with more horsepower, poor crash test ratings, or an increased likelihood of liability claims will cost much more to insure than safer models.
The list below estimates auto insurance premiums for a number of the most affordable automobiles to insure in Kentucky.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX 4WD | $833 |
| Ford Escape XLT 4WD | $908 |
| Toyota RAV4 Limited 4WD | $961 |
| Jeep Wrangler Sport Islander Package 4WD 2-Dr | $971 |
| Toyota Prius | $989 |
| Toyota Corolla LE | $1,013 |
| Jeep Grand Cherokee SRT-8 4WD | $1,032 |
| Nissan Rogue S 2WD | $1,038 |
| GMC Sierra SLT Crew Cab 2WD | $1,032 |
| GMC Sierra 2500HD SLE Regular Cab 4WD | $1,038 |
| Ford Explorer XLT AWD | $1,032 |
| Hyundai Sonata GLS 4-Dr Sedan | $1,039 |
| Ford F-150 Lariat Crew Cab Platinum 4WD | $1,050 |
| Nissan Altima 2.5 4-Dr Sedan | $1,056 |
| Chevrolet Impala LS | $1,058 |
| Volkswagen Jetta 2.0T Station Wagon | $1,066 |
| Dodge Ram 3500 Crew Cab Laramie 2WD | $1,072 |
| Find Cheaper Rates Go | |
Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-vehicle, and multi-policy. Rates do not factor in specific location which can revise insurance rates substantially.
By looking at the data, you can see that vehicles like the Honda CR-V, Ford Escape, Toyota RAV4, Jeep Wrangler, and Toyota Prius are some of the cheapest vehicles to insure for military personnel.
Do you need full coverage?
Saving money when shopping for auto insurance is probably important to most vehicle owners, and one easy way to pay lower rates for insurance for active military is to not buy comprehensive and collision coverage. The chart below illustrates the difference between auto insurance costs with full coverage compared to only the Kentucky minimum liability coverage. The price estimates are based on no claims, a clean driving record, $1,000 deductibles, single marital status, and no discounts are applied to the premium.
If all age groups are averaged, full coverage costs an additional $1,486 per year over liability only. That is a large expense and it proposes the question when is the right time to remove full coverage. There isn’t a steadfast formula for phasing out physical damage insurance, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is more than around 10% of the settlement you would receive from your company, then you might want to think about dropping full coverage.
Insurance rate increases from tickets or accidents
One of the best ways to find cheap auto insurance prices in Kentucky for military personnel is to be a careful driver and avoid traffic citations and accidents. The diagram below shows how traffic citations and at-fault fender-benders impact insurance rates for each age group. The prices are based on a single male driver, comp and collision included, $500 deductibles, and no discounts are applied to the premium.
In the prior example, the average cost of an auto insurance policy in Lexington per year with no accidents or violations is $1,541. Receive one speeding ticket and the average cost rises to $1,736, an increase of $195 each year. Now include one accident along with the one speeding ticket and the yearly cost of auto insurance for active military jumps again to an average of $2,280. That’s an increase of $739, or $62 per month, just for being a careless driver!
Buying coverage from the best auto insurance company can be a challenge considering how many companies sell insurance in Kentucky. The company rank data in the lists below could help you analyze which auto insurance companies to look at buying from. These rankings are only made up of the largest companies in the United States, so smaller regional companies are not factored into the list.
Top 10 Major Auto Insurers in Lexington Ranked by Customer Service
- USAA
- Travelers
- AAA Insurance
- Nationwide
- Safeco Insurance
- Progressive
- State Farm
- The Hartford
- The General
- Esurance
Top 10 Major Auto Insurers in Lexington Ranked by Value
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- Erie Insurance
- The General
- Esurance
- 21st Century
How to find low-cost insurance for active military
Lowering your rates is not difficult, and here are some penny-pinching suggestions that can help you buy more affordable car insurance.
- Higher deductibles mean lower rates
- Save money by obeying traffic laws and keeping a clean driving record
- Claim-free policyholders usually earn a discount
- Accidents can significantly increase rates
- Buy your auto and home insurance from the same company and save
- Improve your credit rating
- Compare prices frequently to find the best deal
The last item on the list is very necessary, as we noted in this piece. Prices charged by companies can be changed at any time, so don’t be unwilling to buy a policy from a new company if a more affordable price is available. Many consumers stick with the same company and that’s fine, but it’s not recommended if that stubbornness costs you several hundred dollars every year. It only take a few minutes to shop around to find cheaper auto insurance for active military in Lexington.
The Lexington auto insurance agencies shown below are a good start to provide answers to your questions and help you determine which policy fits your needs best, as some people prefer to have professional advice when comparing insurance rates for active military. It can be time-consuming to find the cheapest auto insurance company, and getting advice from a licensed agent can give you satisfaction knowing your coverage gives you sufficient coverage for your assets.
To locate a Lexington insurance agent by location nearest to you, click the link at the bottom or click here to compare price quotes now.
- Al Torstrick Insurance Agency
343 Waller Ave #101 – Lexington, KY 40504 – (859) 233-1461 - Shelter Insurance – Dawan Hart
2050 Regency Rd – Lexington, KY 40503 – (859) 276-2661 - Neely Taylor-Wade Insurance
133 Walton Ave – Lexington, KY 40508 – (859) 233-7855